Have you lost sight of a well-loved service or product? People are creatures of repetition. Usually we commit when we find a service or product we enjoy using. Recently, Ryan Buddenhagen wrote a post on brand ability to bring back old services and products.
The notion is not very novel. Blockbuster movies enjoy reviving old heroes and comics. Food producers sometimes reintroduce a retired food or beverage. The Eagles once did a "Hell Freezes Over" tour... Speaking of music, you may catch sight of modern-day hipsters wearing vintage CBGB shirts. The East Village club, opened from 1973 to 2006, was a bastion of punk-rock music.
Investors now plan to reinvent the club, starting with a music festival, then plan on finding a new NY location for the old club at a downtown locale. "We're going to recreate a moment in time," admits one investor. The four-day festival is planned to start on July 5 and host over 300 bands. The spread of the festival is vast, spanning more than 30 locations.
I'm looking forward to tracing how the reinvention of the CBGB sentiment and club fares. The story and Ryan's post introduce interesting points. Why not bring back coveted services and products of old?
It could be a great branding and marketing operation; or, it could fall flat on its face. Here are a few things to consider if interested in internal re-introductions:
What was the reason for retiring the service/product? Was it due to consumer disinterest or a new internal direction? The latter choice may have been a mistake. It's okay. All businesses make them. Sometimes businesses make decisions and then find more intelligence is elucidated after the fact. Think about revisiting former decisions.
Most run tests before fully introducing a service/product to the market. Don't concentrate on how a former product/service fared then. Think about if something can work well into your business model now. The decision could be a good idea; but, you don't want to reengage with full force.
There's never been an easier time to ask consumers questions and get feedback in real time. You may think a former product/service reintroduction; yet, when asking consumers, none of them agree. It's about them; never forget that. A brand can simply write a Facebook post, blog post, or tweet to consumers, asking their opinion on a reintroduction. Even if they don't like the idea, they'll appreciate your brand thought enough to ask them.
To steer the concept in another direction; don't dismiss profits which can come from a presently popular service or product. Think about Apple's iPad; it's on its third iteration. Apple continues to make upgrades and improve its product. As referenced, people are creatures of habit. Sometimes an upgrade to an existing product/service is better than an entirely new entity; because, consumers may already have emotional connections to the original. There's no reason to interrupt that connection.
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